While crypto-markets were slipping, there was one asset that was souring to all time highs (in BTC), and it was none other than the BNB aka Binance coin. But as we know with several years of crypto market observation, what goes up, eventually comes down. At times like these, investors hunt for ways to short the surging coin to profit from the inevitable correction.
But where can you short BNB token? Derivatives exchange Delta yesterday launched BNB futures, giving the ability for investors to short the token with upto 20x leverage. According to the company, Delta is the first exchange in the world to offer BNB futures.
There are several derivative exchanges that offer futures and option trading for many cryptocurrencies such as Bitcoin, Ethereum, Bitcoin Cash, XRP, Tron, etc. Some spot exchanges such as coindcx offer margin trading facility on Binance listed coins and tokens as well. However, futures are an entirely different instrument to trade.
BNB Futures Settled in BTC
Although several futures on Delta Exchange like BTC, ETH and XRP are settled in USDC stable coin, some altcoin futures such as XLM and BNB are settled in BTC. The expiry of the current futures is March 29, 2019.
While the exchange supports USDC stable coin based futures, for withdrawals and deposits, user can only use BTC. An internal currency convertor can be used to convert the BTC to other currencies and vice versa.
The exchange also supports API trading, stop loss, stop limit and trailing stop loss orders.
About the team behind Delta
Delta exchange is co-founded by Pankaj Balani, Jitender Tokas and Saurabh Goyal. Balani holds the title of the CEO, Tokas is the Chief Business office and Goyal is the CTO.
Balani has experience with derivative trading and has helped “build and grow” an e-commerce platform. Goyal is the co-founder of Housing.com and Tinyowl. Tokas has decade long experience in stock analysis and is also a guest author at Coin Crunch India.
Will you trade BNB futures? Let us know in the comments below.
Disclaimer: The above article is not an investment advise. Crypto asset trading and investments are all subject to market risks. Please ensure that you are aware of all the risks before investing. Coin Crunch India cannot be held liable for any losses occurred for investments based on the article. The article also contains a referral link to the exchange, which will offer all users a 15% discount in trading fees and 25% commission to the author. It will not affect the trading experience.
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